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Ifot f o r p u b l i c a t i o n
board o f governors o f t h e federal reserve system
L"k"2
• ' '
December 10, 1956
« « » — » "
. {.In per -cent)
Maturities
•
;
'
'
"
New e a r s .
t
2k months or l e s s .
2:5-30 months...
,
31-36 months ... . ; , •
Over 36 months
i
total ;
•;—
Used cars 2 /
12 months or l e s s
13-18 months
19-2fi: months
Over 2li ninths" '""
; Total
y
Sept. "
Aug. •
--V.^Puirefctised;"
- ' : 4- : ..L:ptorLll
; ' . i)'irebt
-
Sept.
Sept.
W:
2 9 . 1 '(:•
2I
1.00 # 0 *• 100.0
25.it
2it.it
-36.8
1 3J r
2it.7
25.2
;• 37iit
- -12.7;.
IO0TT
l/Revised data,superseding .that o r i g i n a l l y
November lit, ;19i?6. j
;
i
:
'
:
. ' 2/Figure.s a r e .predominately $or l a t e model
from a few banks f o r . a l l useti c a r s .
= _•
Aug.
Aug.
m
22.6
23.3
38; 2
21.7
2it»l
39*1
- j #
3it.2
3U.3
28.0
28.6
3 2 . i t " .... 32-#-l •
,_5i0
JUL.
100,0. ; 100.0
shown i n r e l e a s e dated
i
:
:
!
Used c a r s but i n c l u d e ; data
j
NDTEs Based j n data ffpm i d e n t i c a l .sample of. 8I4. banks f o r August, and
September- covering .about 19,000 c o n t r a c t s on, new .'cars, : jii,000 purchased^ aijd',
5,000 d i r e c t , and 6ii banks covering lit,000 c o n t r a c t s on used : c a r s , 11,000
purchased and 3,000 .direct,-, r;,Since- composition^ f sample changes from month,
t o month, d a t a are not s t r i c t l y comparable•with previous r e l e a s e s .
•a-For d i s t r i b u t i o n according to m a t u r i t i e s and c o n t r a c t balance
percentage of d e a l e r c o s t , see o t h e r s i d e .
^
k9',l
U7.5271.0
33,5
; 18.9
.56.3
• 0.2 : « o a
0l3
•100.0 1 0 0 . 0 j 100.0
27.7 ;.. '
-
-
\
1
Not f o r p u b l i c a t i o n
L .i t .2
-
2 -
DEALER COST RATIOS AND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
SEPTEMBER 1956 AND AUGUST 1956 ( R e v i s e d ) ! /
(In per cent)
C o n t r a c t b a l a n c e 2h months
a s p e r c e n t a g e of
or l e s s
dealer cost 2/
S e p t . Aug.
25-30
months
S e p t . Aug.
Maturities
31-36
months
S e p t . Aug.
Over 36
months
Sept^|~ Aug.
Tot ,al
S e p t . Aug:.
1
Purch ased p aper a nd d i r e c t l o ans
New Cars
80% o r l e s s
81% oo 90%
91% to 100%
101% t o 110%
Over 110%
0.1
1 9 . 2 17.5
3 . 6 3.9
it. 8 U.7
1.U 1 . 1
0.7 0.6
8.2 8.6
6 . 0 6.5
1 0 . it 1 1 . 6
5.9 6.9
0.1
7. it 8 . 1
8.1 7.1
0.1
13.3 13.2
: 6.5 6.0 . 0 . 1
*
2.5
0.1
29.7 27.8
32.0 3 5 , 1
38.0 36.9
0.3
0.2
C o n t r a c t b a l a n c e 12 months
as p e r c e n t a g e o f o r l e s s
d e a l e r c o s t 2 / 3 / S e p t . Aug.
13-18,
months.
S e p t . Aug.
Maturities
19-2U
months
S e p t . Aug.
Total
1.5 1 . 5
Over 2h
months
S e p t . Aug.
3L 3
17.5
29.6
llt.O
' it.6
31.9
17*7
28.6
W
U. 9
100.0 100.0
Tot a l
Sept.
AUG.
Purch ised p iper a id dir<e c t l o ins
Used Cars
80% o r l e s s
81% t o 90%
91% t o 100%
101% t o 110%
Over 110%
Total
9.7
2.2
it. 5
3.5
5.0
9.1
2.5
it.l
3.8
5.0
2it.9 2lt,5
6.1
2.5
5.U
U.2
5 . it
6.it
3.1
it.9
k.2
5.5
2 3 . 6 2k. 1
8.5
8.0
7.6
8.3
5.9
8.0
7.9
6.8
37^6 36.9
2.2
2.3
3.7
3.6
2.1
2.5
2.it
3.9
3.6
2.1
13.9 lit. 5
26.3
12.2
22.1
19.3
20.1
26.-3
13.9
20.9
19.5
19.it
!
100.0 1 0 0 , 0
l i t , 1956.
2 / C o n t r a c t b a l a n c e does not i n c l u d e f i n a n c e and i n s u r a n c e c h a r g e s .
3 / D e a l e r c o s t r e p r e s e n t s " a v e r a g e . w h o l e s a l e , " " a s i s , " o r "buying v a l u e "
as i n d i c a t e d by u s e d c a r g u i d e s .
x-Less t h a n o n e - t e n t h o f one p e r c e n t .
NOTE: The t a b u l a t i o n s a r e b a s e d on d a t a from i d e n t i c a l sample o f it3 banks
banks f o r August a n d September, c o v e r i n g about 7,000 c o n t r a c t s on new c a r s ,
5,000 purchased and 25000 d i r e c t , and 1*3 banks c o v e r i n g about 7,000 c o n t r a c t s
foron
FRASER
u s e d c a r s , 5 , 0 0 0 p u r c h a s e d and 2,000 d i r e c t .
Digitized
i$X f
uaruWy
I
r
BATix
'.'".*wc:D
'—• N o t - i k r - p ^ 1 •»' cntd nh
BOARD OF GOVERNORS: OF 1PHE' FEDERAL RESERVE
L.U.2
'
December 10, 1956' '
MATURITIES ON AUTOMOBILE INSTAljdEfiT LOANS
-$BOOHTBdu.ED'imR -SIX ! I 0 « S OCTOBER : A » SEPTEMBER 1?56
- -
.•
:
. Maturities
; r ::
' : " '-r: Y
(I* B»;ceSty - •
» total
Pur'chasW* .
' p a p e r - . - •*-
Oct.
Sept.
Oct,
New,cars; y j 2|t months ori less "3k. 5
, 2p-30
months- ••
30.6
31-36 'monthsf ,
:3k.$:
OVer 36 mbnttfig.
. b.L
'
- Total .
ranr
I
• 30.9
• U3.fi
7
Used cars 1/
" 12 months or- .less 2h.k
13-18.-mojiths
"2U.o:
. I9'2(i
months ""7"
.' .• Over-i 2k months '
; Totai»v
"iUU.U
2U-6
- 2I1.5.
„ropT:
25.7
i m v '
21.2
ji!r
i
!SeptJ
1
.
I
21.3
22.9
Itt'i'S-
, - D i r e c t .
loans
"Septr-
Oct.
5iu8
30^1
lii.8
0.3
I O T
15375"
-3k-3.
" 33.6
28.6
33.3
isfeor.
100.0
33 2
2a 1
~~^5
l/Figures are predominately for late model -used/'cSrsr bxrt- include, data from
a few banks. for all useti car?.
;
• ' %Leps than one-tenth of; one per cent.
1
i
.MlTE.i 1 Based dri dg.ta- frpm- ^deiitical. s. ample! of 1,37 banks for September and
. October, covering;about;2^000 contracts bn new c'ars,; 17,000 purchased and 8,000
• direct,-and 87 banks covering 3^,000*contracts 'dnf used cars,. 12^000 purchased
-'arid. &>QOO directV VSir^eklcoi^)OBition'6f;sample .'changes from month to month, data
are not strictly conparatiie/id:th ^revioM Vfeleases.;
-- '.;:For j^stHbutioii-acco^diogfjio, maturities anH contract bstlance as a per' c e n t a l of dealer co^st, . see'other/side.• " }— •
Not f o r p u b l i c a t i o n
L.4. 2
— 2 -
DEALER COST RATIOS P.ND MATURITIES
ON AUTOMOBILE INSTALMENT LOANS
OCTOBER 1956 AND SEPTEMBER 1956
( I n per cent)
Contract balance
as percentage o f
d e a l e r c o s t If
24 months
less
Oct. S e p t .
Mai u r i t i e s
Over 36
25-30
31-36
months
months
months
Oct. S e p t . Oct. Sept. Oct, {Sept.
Tot!a
Oct, S e p t .
P u r e lased p aper ind di: •ect l o a n s
New'Cars
80% or l e s s
81% t o 90%
91% t o 100% '
101% t o 110%
Over 110%
Total
i
: 22.8
5.8
ii.li
1.2
0=8
35.0
23,6
5.U
tuO
1.0
0.5
3k.5
C o n t r a c t balance 12 months
less
as- percentage of
d e a l e r c o s t 1 / 2 / •Ctii. 'Sept.
11.3!;
8.0 I
10.2
k.2%
1.5)
io«7
9.6
10.lt
3.U
1.5
a'S.af 35.6
7.9
7.0
9.5
3.6
1.7
0i2
0.1
0,1
29.ii 29.7
Q.U
7.6
7.2
9.L
3.6
M
0.1
0.1
Ul.9 U2.3
2 1 . 1 22.0
24.1' 2h*0
8.0
9.0
- M .
0.2
100.0 100.0
-*
.*
*
Maturities
Over 24
19 - 2 4
13-18
. months
months
rnontha
Oct. [ S e p t ; . j Oct. j S e p t , Oct, JSept.
Total
Oct. S e p t .
' Pure!riased ptaper Ind di: :ect :Loans
Used Cars
80% o r l e s s
81% t o 90%
91% t o 100%
101% to 110%
Over 110%
Total
11.8
3.C
U.7
2.1
3.5
11.7
2.5
U.5
2.2
3.2
25.1
2U.1
8.6
3.8
5.8
3.1
3.9
11.7
7.0
8,h
5.8
M
10.7
6,7
8.9
6,6
5.9
24.9 25.2
37.8
38.8 11.9 11.9
9.0
h.2
5.7
3.0
3.0
3.0
2,1
2.5
2.3
3.1
2.U
h h
hJL
3.0
2.k
35.5
16.6
21.8
13.3
12.8
33.5
15.3
22.3
Uw3
m.6
100.0 100.0
2 / D e a l e r c o s t r e p r e s e n t s "average w h o l e s a l e , " "as i s , " " o r buying value"
as i n d i c a t e d by used c a r g u i d e s . .
-«-Less t h a n o n e - t e n t h of one per c e n t .
NOTE: Because composition of sample changes from month to month, d a t a
are not s t r i c t l y comparable w i t h p r e v i o u s r e l e a s e s . The t a b u l a t i o n s are based
on d a t a from i d e n t i c a l sample of 90 banks f o r September and October, covering
about 12,000 c o n t r a c t s on new c a r s , 9,000 purchased and 3,000 d i r e c t , and
50 banks covering 7,000 c o n t r a c t s on used c a r s , 5,000 purchased and 2,000 d i r e c t .
@FedFRASER